finance

Philips second-quarter earnings beat forecasts



© Reuters. FILE PHOTO: Logo of Dutch technology company Philips is seen at its company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File Photo

(Reuters) – Dutch health technology company Philips on Monday beat analysts’ expectations with a jump in second-quarter core earnings to 532 million euros ($626 million), as the COVID-19 pandemic continued to spur demand for hospital equipment.

Analysts polled by the company on average had expected adjusted earnings before interest, taxes and amortisation (EBITA) to rise to 519 million euros in the April-June period, up from 390 million euros a year ago.

($1 = 0.8492 euros)

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